Question 94

Which of the following is NOT a form of organisation to initiate a business/enterprise?

Solution

The correct answer is "Live and License" because it is not a recognized form of business organization.

Sole Proprietorship: This is the simplest form of business, where a single individual owns and manages the enterprise.

Partner Organization: In this setup, two or more individuals come together to run a business and share profits, responsibilities, and liabilities.

Private Limited Company: This is a registered company with limited liability for its shareholders, often chosen for scalability and credibility.

On the other hand, "Live and License" does not pertain to business structuring. It usually refers to property agreements, such as a rental contract, and has no relevance to initiating a business or enterprise.

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